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NJ Transit, Amtrak service suspended through New York due to power issues 2024-06-20 21:23:00+00:00 - Passengers leaving an Amtrak train at Moynihan Penn Station in New York City, on July 13, 2023. NJ Transit service into and out of New York Penn Station is suspended Thursday afternoon due to power issues on an Amtrak line, NJ Transit announced. Amtrak said rail service between New Haven and Philadelphia is suspended while crews work on the power issue. The cause of the suspension is "reports of a malfunctioning circuit breaker" which caused a loss of power on the tracks between New York Penn Station and Newark Union Station. Amtrak later said a brush fire in Secaucus was also causing issues for trains. "As a result of two separate issues in the New York area, Amtrak service is temporarily disrupted between Philadelphia and New Haven," Amtrak said in a statement. "The issues are a brush fire in Secaucus, N.J., and a malfunctioning circuit breaker resulting in a loss of power on the tracks between New York and Newark Penn stations. Crews are working quickly to resolve both issues." Midtown Direct trains are being diverted to Hoboken. NJ Transit said its tickets and passes are being cross honored by NJ Transit, private buses, and PATH at Newark Penn, Hoboken, and 33rd Street. NJ Transit said there are trains running from Newark to Trenton and passengers heading south should take the PATH to Newark. Dover and Montclair commuters were told to take the PATH to Hoboken to access their trains. An NBC New York crew took this photo of large groups of passengers at New York Penn Station asking transit staff questions about the delays. Amtrak has not provided an estimated time of resumption of service, but said customers with reservations can call Amtrak at 1-800-USA-RAIL to change their reservations. Some Amtrak trains were terminating at Philadelphia or Newark due to the power issues. PATH was also reporting "network connection" issues Thursday afternoon at Newark Penn Station leading to delays on the World Trade Center - Newark line. It is unclear if these connection issues are related to the Amtrak line power issues. Earlier in the week, Amtrak warned the high temperatures the region is facing this could require trains to operate at lower speeds and results in afternoon delays of up to 60 minutes.

Roku Stock's Wild Ride: Bullish Analysts Bet On Growth Despite Competitive Threats - Roku (NASDAQ:ROKU) 2024-06-20 21:18:00+00:00 - Loading... Loading... As Roku, Inc. ROKU navigates a turbulent market, its stock is caught in a fierce bull-bear debate. Needham analyst Laura Martin maintains a Buy rating with a $100 price target, summarizing key bullish and bearish points driving investor discussions. Bullish investors are enthusiastic about Roku’s revenue potential from several fronts: Programmatic CTV Ad Sales: Roku’s integration with third-party DSPs aims to capitalize on unsold ad inventory. This should potentially drive significant revenue growth. Roku’s integration with third-party DSPs aims to capitalize on unsold ad inventory. This should potentially drive significant revenue growth. Subscription Revenue Shares: Increased focus on subscription services will boost recurring revenues. Strategic initiatives taken by the company to simplify sign-ups. Increased focus on subscription services will boost recurring revenues. Strategic initiatives taken by the company to simplify sign-ups. Home Page Monetization: Roku’s home screen, with its substantial daily reach, will feature innovative ad units, enhancing monetization opportunities. Roku’s home screen, with its substantial daily reach, will feature innovative ad units, enhancing monetization opportunities. CTV Data Revenue: The potential cessation of Vizio’s third-party data sales could make Roku’s data even more valuable. This could offer substantial revenue upside. Also Read: Roku Eyes Enhanced Advertising Tech – Inks Pact With Fandango To Boost Ad Campaign Analytics Roku Bearish Concerns: Competition And Content Costs Conversely, bearish investors highlight several risks: Competitive Threats: Larger competitors like Google aka Alphabet Inc GOOG GOOGL , Amazon.com Inc AMZN and gaming consoles from Microsoft Corp MSFT and Sony Group Corp SONY , pose significant challenges to Roku’s market share. Larger competitors like Google aka , and gaming consoles from and , pose significant challenges to Roku’s market share. Walmart’s Acquisition of Vizio: Concerns loom over Roku’s OS potentially losing shelf space if Walmart Inc WMT integrates Vizio Holding Corp ‘s VZIO OS into its onn. TV brand, post-acquisition. Concerns loom over Roku’s OS potentially losing shelf space if integrates ‘s OS into its onn. TV brand, post-acquisition. Rising Content Costs: The high cost of original content, coupled with previous content impairments, raises concerns about Roku’s profitability and strategic execution. Roku’s strong strategic position in the over-the-top and connected TV ecosystems makes it a compelling investment, notes Martin. With 50% penetration in US broadband homes, Roku is the largest streaming platform for films and TV content, offering attractive opportunities for advertisers. Its focus on cost control, substantial CTV ad inventory and potential valuation upside position Roku as a key player in the digital video aggregation space, according to Martin. Needham believes that while Roku’s stock faces a mix of optimism and skepticism, its robust growth agenda, strategic positioning and potential revenue streams make it a stock to watch. Investors should weigh the bullish revenue opportunities against the competitive and cost-related risks to make informed decisions. Read Next: AI Against AI: Cybersecurity Expert Sakshi Mahendru On Why AI-Powered Solutions Are The Need Of The Hour Image: Shutterstock

TikTok asks for ban to be overturned, calling it a "radical departure" that harms free speech 2024-06-20 21:18:00+00:00 - What's next for TikTok users? Legal analyst explains ban bill What's next for TikTok users? Legal analyst explains ban bill 03:37 A new law signed by President Joe Biden that could lead to a ban of TikTok next year is unconstitutional and should be overturned, the social media platform alleged Thursday in new legal filings. TikTok, which is owned by the Chinese company ByteDance, argued that the potential ban amounts to a "radical departure" from the U.S. supporting an open internet, setting a "dangerous precedent." The rebuttal comes after Biden signed the law in April, which requires ByteDance to either divest the business or face a ban of the platform within the U.S. ByteDance's ownership of TikTok could jeopardize the personal data of millions of Americans who use the app, lawmakers said in arguing for the measure. The legal briefs, filed on behalf of TikTok as well as TikTok users and content creators, contend that the law unfairly singles out the company, while providing "no justification for banning TikTok by fiat." The service's users, meanwhile, allege in the court documents that the ban would curb free speech, as well as their ability to choose where they wish to express their views. "Never before has Congress expressly singled out and shut down a specific speech forum," TikTok said in one brief. "Never before has Congress silenced so much speech in a single act." TikTok added, "The Constitution does not allow Congress to single out one speech platform, make no findings, announce no justifications, ignore less restrictive alternatives, and discriminate based on speaker and content. The act is unconstitutional and must be enjoined." The law gives ByteDance nine months to arrange a sale of TikTok, with the potential for an additional three-month grace period. Barring such a deal, the law would effectively ban the social media app in the U.S.

Change Healthcare to start notifying customers who had data exposed in cyberattack 2024-06-20 21:04:24+00:00 - Change Healthcare is starting to notify hospitals, insurers and other customers that they may have had patient information exposed in a massive cyberattack. The company also said Thursday that it expects to begin notifying individuals or patients in late July. Change Healthcare, a subsidiary of health care giant UnitedHealth Group, provides technology used to submit and process billions of insurance claims a year. Hackers gained access in February to its system and unleashed a ransomware attack that encrypted and froze large parts of it. The attack triggered a disruption of payment and claims processing around the country, stressing doctor’s offices and health care systems by interfering with their ability to file claims and get paid. Change says names, addresses, health insurance information and personal information like Social Security numbers may have been exposed in the attack. The company is still investigating. It said Thursday that it has reviewed more than 90% of impacted files and has seen no signs that doctors’ charts or full medical histories were taken. After the attack, UnitedHealth paid a $22 million ransom in bitcoin, CEO Andrew Witty has said. Witty said during Congressional hearings last month that all of the company’s core systems, including claims payment and pharmacy processing, were functional. The company has been offering to pay for two years of credit monitoring and identity theft protection for people worried that their information may have been exposed in the attack. ___ The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.

Costco made a big change to its rotisserie chicken packaging. Shoppers hate it. 2024-06-20 21:04:00+00:00 - Costco requires membership for food court; Trader Joe's raises banana prices Costco requires membership for food court; Trader Joe's raises banana prices 00:45 Costco is now bagging its wildly popular rotisserie chicken at some locations as the warehouse club looks to reduce the packaging and environmental cost of storing and transporting the $4.99 product in rigid plastic containers. The retailer in March started swapping out its hard-plastic packaging with flexible plastic bags akin to what Walmart and Whole Foods use to package their rotisserie chickens. But shoppers have panned the bags, with some customers taking to social media to decry the grease and leaks that result from the new packaging. "Chicken juice spilled all over the trunk of our car," one person said on Reddit. "I understand being more environmentally conscious but honestly it was so bad it will make me question whether I really want to get any more of these things and deal with that experience all over again," said another. The retailer did not respond to a request for comment. Based in Issaquah, Washington, Costco operates 879 warehouses, including 606 in the U.S. and Puerto Rico. Consumer Reports also took note of the complaints, delving into whether there are safety concerns related to bags leaking chicken juice. The good news is that because the Costco chicken is cooked and not raw, the risk from bacteria is far lower, according to the consumer group. The bad: Rotisserie chicken juices that leak into a reusable bag or onto a countertop could promote bacterial growth, along with getting yucky and smelling bad as time goes on. Some Costco shoppers offered a more positive spin, noting that bagged poultry fits more easily into the refrigerator. Costco's new packaging uses 75% less plastic and would save more than 17 million pounds of plastic a year, the company explained in a display sign noting the "classic Costco item in a different container." And since the bagged poultry takes up less space, transporting it will also require 1,000 fewer freight trucks on the road, eliminating more than 4,000 metric tons of carbon dioxide annually, according to the retailer.

17 iconic actors who have never been nominated for Academy Awards and what they should've won for 2024-06-20 21:00:45+00:00 - Donald Sutherland died in June 2024. He was 88 years old. Although he appeared in dozens of iconic films, he was never nominated for a competitive Oscar. He was in good company. There are many talented actors who have never been nominated. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Being nominated for an Academy Award is one of the highest honors an actor could receive, and winning one is a whole new level. But there are plenty of actors who have never received an Oscar nomination, even though their work has spanned decades, is consistently great, or made hundreds of millions of dollars at the box office. Donald Sutherland, for example, appeared in numerous Oscar-quality films throughout his career before his death in June 2024. But he only received an honorary Oscar in 2017. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Expanded Kentucky Bourbon Trail to feature both age-old distilleries and relative newcomers 2024-06-20 20:58:13+00:00 - LOUISVILLE, Ky. (AP) — The Kentucky Bourbon Trail is maturing, like the fine whiskeys it showcases. A new-look Bourbon Trail unveiled Thursday will lead visitors to large and small distilleries alike, linking relative newcomers and age-old brands in a collective strategy to build on bourbon tourism’s popularity. It began with seven participating distilleries welcoming visitors 25 years ago. Now the excursion will showcase 46 distilleries, giving visitors more options to plan trips to soak in the sights and smells of bourbon-making in the Bluegrass State. Since its creation in 1999 by the Kentucky Distillers’ Association, the spirits tour has attracted more than 18 million visitors from all 50 states and dozens of countries, the KDA said. “The Kentucky Bourbon Trail now is a global, bucket-list tourism destination,” Eric Gregory, president of the distillers’ association, said as industry leaders gathered for the announcement. As the original trail grew, it traversed the heart of Kentucky bourbon country, spotlighting such powerhouse brands as Jim Beam, Maker’s Mark, Wild Turkey, Woodford Reserve, Evan Williams, Four Roses, Old Forester, Michter’s and Bulleit. In 2012, a separate Kentucky Bourbon Trail Craft Tour was launched to showcase the growing number of smaller distilleries seeking their share of the ultra-competitive spirits market. Now those tours are consolidating. The new tourism and marketing strategy was unveiled in Louisville — the gateway to bourbon tourism. They also announced a new logo and a new digital marketing campaign to help tourists plan bourbon trips to the state. Spirit companies have invested huge sums into new or expanded visitor centers to capitalize on the growing appeal of getting behind-the-scenes peeks into how bourbon is crafted. For small distilleries, joining the Kentucky Bourbon Trail was likened to making the big leagues. Kim Bard, co-founder of The Bard Distillery in western Kentucky, said it will immediately change perceptions about smaller producers that were part of the craft tour. “People would come in, a lot of times they see us as less-than because we’re on the craft trail and not on the Kentucky Bourbon Trail,” she said in an interview. “They see that as a very distinctive line. “Now that the KDA has put us all on the same trail, I think that sort of thinking will stop and we’ll be looked at as just another distillery, which is great for us,” she added. Brent Goodin, owner of Boundary Oak Distillery in central Kentucky, predicted that shifting to the Kentucky Bourbon Trail will boost tourism at his and other smaller distilleries. Producers see tourism as an essential part of brand promotion. “Anything we can do to make the tourist realize that everything is Kentucky bourbon and we’re all producing the same thing –- maybe not as much as the next guy but we’re all kind of in it together,” he said in an interview. Any big bourbon announcement in Kentucky typically draws a bevy of the state’s political leaders. On Thursday, industry leaders were joined by Democratic Lt. Gov. Jacqueline Coleman and Republican U.S. Rep. Andy Barr, who co-chairs the Congressional Bourbon Caucus. Bourbon tourism’s global appeal is creating more business opportunities for producers, Barr said. “There’s so much opportunity in the export market for Kentucky bourbon,” Barr said. Coleman led the crowd in toasting the bourbon sector’s past and future while recognizing Kentucky’s status as the “undisputed home of bourbon.” Bourbon tourism has shaken off any pandemic-era hangover as venerable bourbon producers and industry newcomers alike are benefiting from a new surge in visitors. Attendance surpassed 2.5 million visitors last year along the Kentucky Bourbon Trail and the Kentucky Bourbon Trail Craft Tour. Overall, Kentucky’s bourbon industry injects $9 billion into the state’s economy each year, creating more jobs and attracting more tourists than ever before, according to a recent study. More rounds of growth are expected as Kentucky producers make billions of dollars in capital investments. Kentucky distillers produced a record 2.7 million barrels of bourbon in 2022, according to the report, which was commissioned by the distillers’ association. Producers had a record inventory of 12.6 million bourbon barrels aging in warehouses at the start of 2023, according to the association. Those massive inventories are a bet on the future because most bourbons typically age four to eight years before reaching their market. Bourbon gets its flavor and golden brown color during aging. Kentucky distillers produce 95% of the global bourbon supply, the KDA says.

'Yellowstone' season 5 finally has a return date. Here's what we know, and whether Kevin Costner will be back. 2024-06-20 20:57:26+00:00 - Whether or not Costner will return as John Dutton is still up in the air. Kevin Costner as John Dutton in "Yellowstone" season five. Paramount Network It seems inconceivable that the final episodes won't feature Costner, given that he is the show's protagonist, but it appears that could be the case if a new contract is not negotiated. Last year, the 69-year-old actor revealed via court documents related to his recent divorce that he is "no longer under contract" for the drama and wasn't expecting to receive any further monetary compensation from the series apart from "back-end contractual participation rights." When he later took the stand at a child support hearing, the Oscar winner said that a "long, hard-fought negotiation" about breaking season five into two parts was behind his exit, as it clashed with plans for his four-part Western saga, "Horizon." At the time, he stated his intentions to take the show's producers to court over a pay dispute. More recently, Costner has changed tack. Speaking to Entertainment Tonight in April, he said he'd "love" to be able to return to the show to wrap things up for his character, but no decisions had yet been made. And in June, he said that he would still consider returning. "I've always felt that... It might be an interesting moment to come back and finish the mythology of this modern-day family," he told People. "And if that happens, I would step into it if I agreed with how it was being done." But the actor told People that "in the very end, I couldn't do it for more than I had already done." The Hollywood Reporter reported in June that Costner was still unattached to the new batch of episodes at the time they began filming in May.

Why climate protesters painted Stonehenge with orange corn flour 2024-06-20 20:56:52+00:00 - Two climate protesters were arrested on Wednesday after spraying orange corn flour on Stonehenge in an audacious bid to pressure the U.K. government to end the use of fossil fuels. The climate activist group Just Stop Oil took credit for the bold demonstration, saying in a statement that the next government must “sign up to a legally binding treaty to phase out fossil fuels by 2030.” The general election is set to take place on July 4. Video posted by the group on social media shows protesters spraying orange corn flour on the stone monoliths with fire extinguishers as others pull them away and yell, “Drop it!” Wiltshire Police said two people were arrested. The organization identified the two as Niamh Lynch, 21, and Rajan Naidu, 73. Climate protesters in recent years have resorted to outrageous protest tactics that they say are needed to highlight the absurdity of climate policies aimed merely at incremental progress amid an acute crisis, as well as to break through public indifference on the issue. Activists have glued their hands to the frames or protective glass encasing famous artworks in museums and have even thrown food at them. Organizers said there is no intention of causing permanent damage to the paintings, but gallery directors have told protesters that they “severely underestimate the fragility of these irreplaceable objects.” Similarly, Just Stop Oil said that the orange corn flour used in the Stonehenge protest will wash away in the rain. Such tactics have drawn intense criticism nevertheless. Many U.K. politicians denounced Wednesday’s action. Prime Minister Rishi Sunak called Just Stop Oil a “disgrace.” Labour Party leader Keir Starmer said the damage to Stonehenge was “outrageous” and called for those responsible to “face the full force of the law.” Yet Just Stop Oil has threatened to escalate its protest by targeting similar stone structures in Europe in the coming months. “Failure to commit to defending our communities will mean Just Stop Oil supporters, along with citizens from Austria, Canada, Norway, the Netherlands and Switzerland will join in resistance this summer, if their own Governments do not take meaningful action,” the group said in a statement. “Stone circles can be found in every part of Europe showing how we’ve always cooperated across vast distances — we’re building on that legacy.”

What Netflix, Amazon, Apple And Disney Are Doing To Keep Users Hooked And Avoid Churn In 2024 - Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN) 2024-06-20 20:49:00+00:00 - Loading... Loading... Streaming companies are shifting their focus "from pure subscriber acquisition to a more nuanced attention on profitable growth." That’s according to a new report from Antenna, a market analysis firm focused on Subscription Video On Demand (SVOD) companies. Netflix Inc NFLX, Hulu, Paramount Global Class B PARA and Amazon.com Inc AMZN each have ad-supported versions of their streaming services. These ad-supported tiers added more new subscribers than ever before during the last quarter of 2023, and the first of 2024 in most of the major platforms. Currently, 38% of subscriptions are ad-supported and the category appears to be growing. The rate of people who are choosing to take ads when given the choice has grown during the first quarter of 2024. That's against a backdrop of slowing growth that has major streaming services concerned. While growth is still present, it has slowed down for several quarters in a row with 25 million new subscribers across platforms representing a 10.2% year-over-year growth during Q1 2024, against 18.8% for 2023. Read Also: Netflix Vs. Nathan’s Famous: How Streaming Giant And Food Company Backed By Bill Gates Could Eat Hot Dog Company’s Lunch In Joey Chestnut Battle Netflix led the group in growth, adding 7.3 million or 23% of all subscribers. The lead was accomplished after the company's major crackdown on account sharing and the launch of its ad-supported tier. In recent days, Netflix also made public several strategies aimed at growing its subscription base in an age of increasing competition and "cord-cutting." This week, the company announced new localized productions in less explored East-Asian countries like Thailand and Indonesia, in order to capitalize on their large, young demographics and hopefully replicate the world wide success of its South Korean hit "Squid Game." Last week, the company also announced a new multi-year partnership with President Barack Obama's production house, Higher Ground. Of the so-called Premium SVODs, Peacock, which is owned by Comcast Corp CMCSA as the fastest growing platform of Q1, increased its subscriber base by 31.3% year-over-year. Bundles Are Helping Slow Down Churn: The concerning slowdown of growth can also be seen by the rate of net adds for new subscribers. Net adds are calculated by subtracting the number of cancellations from the total number of new subscribers, or gross adds. Q1 2024 had the smallest amount of net adds in over two years. Across all platforms reviewed by Antenna, there were 55.2 million new subscriptions, against 50.4 million cancellations, resulting in only 4.8 million net adds. This level of cancellations was also the largest seen by the firm since it began analyzing the market. Bundles are presenting themselves as a viable strategy for retaining clients, according to Antenna. A bundle between Walt Disney Co‘s DIS Disney+ and Warner Bros Discovery Inc WBD was announced last month, offering Disney+, Hulu, and Max among other services. As a comeback, Comcast came up with a bundle to include Netflix and Apple TV along with Peacock. Clients who had taken part in Disney’s or Apple Inc‘s AAPL bundles were less likely to cancel their service than those paying for a stand-alone service. Now Read: Apple’s Streaming Ambitions In China Continue Despite Geopolitical Tensions Unsplash image.

Another Democrat has plans to ditch Netanyahu's speech. More could follow. 2024-06-20 20:46:56+00:00 - Massachusetts Sen. Elizabeth Warren has added her name to the growing list of lawmakers who plan to skip Israeli Prime Minister Benjamin Netanyahu’s upcoming joint address to the House and Senate. Several Democrats denounced the invitation after it was extended by congressional leaders of both parties in May. Now, Netanyahu’s recent broadside against the Biden administration, which has faced domestic protests over its support for Israel’s indiscriminate bombing of Gaza, could cause more Democrats to skip the event. The Biden administration has spent the week disputing Netanyahu’s claim that it has been withholding weapons and ammunition shipments meant for Israel. On Tuesday, Warren told The Hill that Netanyahu has “created a humanitarian disaster” and that she won’t attend. She joins fellow Sen. Bernie Sanders and California Rep. Ro Khanna, who said on “Meet the Press” over the weekend he’d welcome a conversation with Netanyahu about ending the war but won’t attend the speech because he’s “not going to sit in a one-way lecture.” Rep. Jim Clyburn, D-S.C., also said he won’t attend, citing Netanyahu’s controversial joint address in 2015, which was meant to scuttle U.S. peace negotiations with Iran and was widely viewed as a slight against then-President Barack Obama. “I’m going to treat him the same way he treated Barack Obama,” Clyburn said on NewsNation last week, before adding that he’s working with other lawmakers on possible alternative counterprogramming for people to attend instead of Netanyahu’s speech. Axios reports that several other Democrats involved in the talks, which are still in their early stages, may be looking to disrupt the speech as well. Netanyahu’s video suggests that he’s indifferent to the political risks the Biden administration has taken to support Israel’s ongoing war against Hamas. It’s given Democrats yet another reason to skip the speech, which also include the International Criminal Court’s warrant for his arrest (the U.S. is not a signatory to that court, and the House voted to sanction the ICC earlier this month); his effort to constrain Israel’s independent judiciary; the fact that the families of hostages say that they were told Netanyahu won’t negotiate for their loved ones’ release unless he thinks it’s “politically good for him” (as NBC News reported); and because Biden himself has suggested there’s “every reason” to conclude the Israeli leader is prolonging the war for personal gain. By attending Netanyahu’s speech, Democrats lend Netanyahu a credibility he desperately needs — at a time when he seems wholly undeserving of it.

What every member of the royal family wore to Royal Ascot 2024 2024-06-20 20:44:30+00:00 - The British royal family is flocking to Ascot for the annual horse-racing competition. Royal Ascot is a spectacle, not just for the racing but for the fashion display. King Charles and Queen Camilla subtly coordinated elegant looks, while Prince William opted for a dapper ensemble. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement For the British elite, Royal Ascot is the pinnacle of the social calendar in the summer. The annual five-day horse-racing event, which started on Tuesday this year and is wrapping up on Saturday, is nothing short of a spectacle — not just for the competition itself but for the luxurious and sometimes wild spectator fashion. The dress code depends on the type of enclosure Royal Ascot-goers have access to, but a rule of thumb is the more exclusive the area, the more elaborate the outfits are. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

TikTok accuses federal agency of ‘political demagoguery’ in legal challenge against potential US ban 2024-06-20 20:44:07+00:00 - TikTok disclosed a letter Thursday that accused the Biden administration of engaging in “political demagoguery” during high-stakes negotiations between the government and the company as it sought to relieve concerns about its presence in the U.S. The letter — sent to David Newman, a top official in the Justice Department’s national security division, before President Biden signed the potential TikTok ban into law — was submitted in federal court along with a legal brief supporting the company’s lawsuit against measure. TikTok’s Beijing-based parent company ByteDance is also a plaintiff in the lawsuit, which is expected to be one of the biggest legal battles in tech and internet history. The internal documents provide details about negotiations between TikTok and the Committee on Foreign Investment in the United States, a secretive inter-agency panel that investigates corporate deals over national security concerns, between January 2021 and August 2022. TikTok has said those talks ultimately resulted in a 90-page draft security agreement that would have required the company to implement more robust safeguards around U.S. user data. It would have also required TikTok to put in a “kill switch” that would have allowed CFIUS to suspend the platform if it was found to be non-compliant with the agreement. However, attorneys for TikTok said the agency “ceased any substantive negotiations” with the company after it submitted the draft agreement in August 2022. CFIUS did not immediately respond to a request for comment. The Justice Department said it is looking forward to defending the recently enacted legislation, which it says addresses “critical national security concerns in a manner that is consistent with the First Amendment and other constitutional limitations.” “Alongside others in our intelligence community and in Congress, the Justice Department has consistently warned about the threat of autocratic nations that can weaponize technology — such as the apps and software that run on our phones – to use against us,” the statement said. “This threat is compounded when those autocratic nations require companies under their control to turn over sensitive data to the government in secret.” The letter sent to Newman details additional meetings between TikTok and government officials since then, including a March 2023 call the company said was arranged by Paul Rosen, the U.S. Treasury’s undersecretary for investment security. According to TikTok, Rosen told the company that “senior government officials” deemed the draft agreement to be insufficient to address the government’s national security concerns. Rosen also said a solution would have to involve a divestment by ByteDance and the migration of the social platform’s source code, or its fundamental programming, out of China. TikTok’s lawsuit has painted divestment as a technological impossibility since the law requires all of TikTok’s millions of lines of code to be wrested from ByteDance so that there would be no “operational relationship” between the Chinese company and the new U.S. app. After the Wall Street Journal reported in March 2023 that CFIUS had threatened ByteDance to divest TikTok or face a ban, TikTok’s attorneys held another call with senior staff from the Justice and Treasury departments where they said leaks to the media by government officials were “problematic and damaging.” That call was followed by an in-person meeting in May 2023 between TikTok’s attorneys, technical experts and senior staff at the Treasury Department focused on data safety measures and TikTok’s source code, the company’s attorneys said. The last meeting with CFIUS occurred in September 2023. In the letter to Newman, TikTok’s attorneys say CFIUS provides a constructive way to address the government’s concern. However, they added, the agency can only serve this purpose when the law - which imposes confidentiality - and regulations “are followed and both sides are engaged in good-faith discussions, as opposed to political subterfuge, where CFIUS negotiations are misappropriated for legislative purposes.” The legal brief also shared details of, but does not include, a one-page document the Justice Department allegedly provided to members of Congress in March, a month before they passed the federal bill that would require the platform to be sold to an approved buyer or face a ban. TikTok’s attorneys said the document asserted TikTok collects sensitive data without alleging the Chinese government has ever obtained such data. According to the company, the document also alleged that TikTok’s algorithm creates the potential for China to influence content on the platform without alleging the country has ever done so.

Facial gum is all the rage on TikTok. So does it work? 2024-06-20 20:42:00+00:00 - Gov. Hochul to sign landmark social media bill Gov. Hochul to sign landmark social media bill 03:33 TikTok has given the world some unusual fads, from cooking chicken in NyQuil to stepping on a pyramid of milk crates. Now, a new trend on the social media platform is catching on with young men who want to achieve a chiseled jawline. A handful of companies — including Stronger Gum, Jawz and Rockjaw — have launched chewing gum products called "facial gum," which they are marketing heavily on TikTok. Companies selling facial gum claim their products will lead to stronger, more defined jaw muscles, improving one's physical appearance. "Stronger jaw muscles are not only beneficial for facial appearance but also essential for health," Stronger Gum says on its website. "Strong jaw muscles promote correct oral posture: mouth closed, teeth aligned, tongue resting against the roof of mouth and stable head position. Correct oral posture has many important benefits such as breathing through the nose providing up to 20% more oxygen to your body." The gum products sell anywhere from $2 for a pack of 10 gum pieces to $90 for a pack of six pieces. The companies are selling a special type of gum called mastic, a tree resin that is tougher to chew than normal gum. Because of its texture, it can be chewed for a longer period, anywhere from 30 minutes to two hours, which in turn exercises jaw muscles, the companies say. In an email to CBS MoneyWatch, Rockjaw founder Sachin Patel said there's proof mastic gum helps shape jawlines, citing a 2019 study from Tokyo Medical and Dental University that concluded "masticatory force can prompt changes in facial structure." "There are studies that show increased chewing with higher mechanical loads increases jaw muscle and bone size," Stronger Gum's owner Tomas Palomaki told CBS MoneyWatch in an email, pointing to the same study. "As anecdotal evidence, I increased my jaw muscle size by chewing Stronger Gum for less than a year." Why is facial gum so popular? Facial gum is just one of many trends younger consumers have adopted in hopes of defining their jawline. Another technique, made famous by British orthodontist John Mew and called "mewing," involves flattening the tongue against the roof of one's mouth for extended amounts of time throughout the day. Popularized on TikTok, mewing, like facial gum, is part of a larger trend known as "looksmaxxing" — a male-focused collection of behaviors and products promoted as effective in helping men improve their physical appearance. Like most looksmaxxing trends, mewing has been dismissed by some physicians who call it an ineffective way to change one's facial structure. "Facial restructuring is not simply achievable by changing your tongue's resting position," the American Association of Orthodontists said in a statement in January. "It's a complex process that involves moving jaw bones, facial bones, and soft tissue. Mewing has generated significant social media buzz lately. However, there's no current research that suggests the technique provides any benefit to your jawline or oral health." Do facial gum products actually work? Facial gum may be the latest social media trend in men's beauty, but there's no scientific evidence that chewing the product will sculpt someone's jawline, dental professionals told CBS MoneyWatch. The American Dental Association said it doubts the gums work. Chewing a tougher gum may strengthen jaw muscles but fails to change the "undersurface of the jawline," which can actually lead to a wider shaped jaw and face, the group said in a statement posted on its website. "Most viral trends are rarely backed by scientific evidence and can range from ineffective to harmful when it comes to oral health," Edmond Hewlett, spokesperson for the ADA, told CBS MoneyWatch. Chewing tougher gum could actually have other adverse effects on someone's health, Hewlett added. "The intensity of chewing gum for extended periods of time on a regular basis — especially if it is dense or has a thick consistency — could lead to symptoms like jaw pain, headaches and put you at risk for temporomandibular disorders," said Hewlett, a dentistry professor at the University of California, Los Angeles.

An airline startup that hopes to fly Airbus A380s between New York and London is delaying its launch to 2025 2024-06-20 20:40:11+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview UK-based startup Global Airlines, which planned to begin flying Airbus A380s between New York and London as early as summer 2024, is already delaying its launch to 2025. A company spokesperson told FlightGlobal that its first aircraft — a double-decker registered as 9H-GLOBL — is still in need of a complete paint job, interior, and required maintenance checks. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. He said the livery is being painted, and the cabin plans are "progressing," while the maintenance work is expected to start in the coming weeks and will put the airline "a step closer toward launching passenger flights next year." "[Operations] and maintenance timelines, like for any airline, have led us to reappraise when we'll be operational," the spokesperson said. He noted that 2025 "is the target" date and that the company is "working with various partners to achieve this." Advertisement Global did not immediately respond to a request for comment. Since its launch, Global has touted a luxurious interior for its A380, which is planned to have 471 seats in economy, business, and first class. Global has so far acquired one of the four A380s it has set out to operate but has not disclosed a price. The first is an 11-year-old superjumbo previously flown by China Southern Airways. Related stories It had been sitting in a boneyard in the Mojave Desert from December 2022 until April 2024, when it made its way to Glasgow Prestwick Airport in Scotland for the work needed to enter commercial service. Advertisement "This was meant to be impossible, but what a super-human group of people who have a burning passion to make aviation better," Global found James Asquith said on X after the flight. The 35-year-old is famous for being the youngest person to visit every sovereign country. Global's plan is ambitious but questionable Asquith's ambitious plan to fly the fuel-hungry A380 across the Atlantic has raised eyebrows due to the quad-engine plane's inefficiency and high operating costs. The pandemic accelerated the retirement of superjumbos by airlines like Air France and Thai Airways in favor of more efficient widebodies, and a lack of orders forced Airbus to end production of the A380 in 2021. Some carriers, like Qatar Airways and Emirates, have found the A380's sweet spot on very specific high-demand routes in a strong hub-and-spoke network. Advertisement The NYC-London route is extremely competitive, with dozens of flights between the two cities daily. Global Airlines' first Airbus A380 at Glasgow Prestwick Airport. Bob Logan/Prestwick Aviation Photography It'll be difficult to attract enough customers to fill an A380 — especially for a new carrier when there are already plenty of established mainline and low-cost options already available. Nevertheless, Global remains optimistic. The carrier recently announced a chauffeur service that it hopes will set it apart from the competition. "I am hopeful that to-and-from airport transfers, along with some other exciting announcements we have coming up, will persuade even more passengers to fly with Global Airlines," Asquith said in a February press release announcing the special service.

Walmart is shifting to digital prices across the chain's 2,300 stores. Here's why. 2024-06-20 20:39:00+00:00 - Walmart shoppers will soon be checking prices on electronic shelf labels, with the nation's largest retailer saying it will shift to digital price technology from its current paper stickers throughout its 2,300 U.S. stores by 2026. Walmart stores have more than 120,000 products on their shelves, each with an individual paper price tag. Each week, Walmart workers add price tags on new items, rollbacks and markdowns, a time-consuming and repetitive process. The digital shelf label technology will allow Walmart employees to update prices with a mobile app, rather than walking around the store and swapping out paper tags by hand. What used to take a Walmart employee two days will now take a few minutes to complete, the company said. The transition "represents a significant shift in how I, and other store associates, manage pricing, inventory, order fulfillment and customer interactions, ensuring our customers enjoy an even better shopping experience," Daniela Boscan, a Walmart employee who took part in testing the technology at a Walmart in Grapevine, Texas, said in a news release. No plans for surge pricing Walmart told CBS MoneyWatch that it would not use the technology for dynamic or surge pricing, when retailers or other businesses quickly change the cost of products or services based on fluctuations in demand due to weather, traffic or other issues. "It is absolutely not going to be 'one hour it is this price and the next hour it is not,'" Greg Cathey, senior vice president of transformation and innovation at Walmart, said in a statement. Wendy's in February came under fire in announcing plans to use dynamic pricing, but sought to reassure patrons it would be used to offer discounts and not to hike prices when demand is high. "I do not think we will see Walmart introduce dynamic pricing anytime soon," Neil Saunders, managing director of GlobalData's retail division, told CBS MoneyWatch. "A lot of shoppers use Walmart because it has low prices, and Walmart has worked very hard to establish trust with the customer," said the analyst, noting that might be jeopardized if people saw the retailer's prices fluctuate sharply. The main reason Walmart is switching to digital price tag is to cut costs, Saunders said, noting the substantial labor hours associated with manually changing prices on so many products across thousands of stores. Walmart concurred with Saunders' assessment, saying "this efficiency allows associates to spend more time attending to customers and ensuring their needs are met, thereby elevating the level of customer service at the stores."

McKesson Introduces FDA-Approved Prostate Cancer Drug - Boston Scientific (NYSE:BSX), DaVita (NYSE:DVA) 2024-06-20 20:34:00+00:00 - Loading... Loading... McKesson Corporation's MCK Biologics by McKesson, its independent specialty pharmacy specializing in oncology and rare disease areas, has been selected by Accord BioPharma, Inc. as an exclusive specialty pharmacy provider for CAMCEVI (leuprolide) 42mg injection emulsion for subcutaneous use. CAMCEVI is a gonadotropin-releasing hormone (GnRH) agonist indicated for the treatment of adult patients with advanced prostate cancer. CAMCEVI was approved by the FDA on May 25, 2021. The availability of the FDA-approved drug is expected to significantly solidify McKesson's foothold in the global prostate cancer treatment space. Significance of the Availability Per McKesson, CAMCEVI is an important advancement in oncology, which is expected to improve patients' long-term outcomes. McKesson's management believes that the availability of the convenient therapy will likely provide an option to treat patients with advanced prostate cancer. Industry Prospects Per a report by Grand View Research, the global prostate cancer therapeutics market size was estimated at $12.12 billion in 2022 and is anticipated to expand at a CAGR of 8.4% between 2023 and 2030. Factors like the increasing prevalence of prostate cancer and the adoption of novel screening and diagnostic technologies are expected to drive the market. Given the market potential, the recent drug availability is expected to strengthen McKesson's position in the global prostate cancer care space. Notable Developments in Specialty Pharmacy Solutions In April, McKesson announced that Biologics by McKesson was selected by Day One Biopharmaceuticals as a limited network specialty pharmacy for OJEMDATM (tovorafenib) for the treatment of pediatric low-grade glioma (pLGG). In December 2023, McKesson announced that Biologics by McKesson was selected by Novartis as a specialty pharmacy provider for FABHALTA (iptacopan). The same month, McKesson announced that Biologics by McKesson was selected by SpringWorks Therapeutics as a limited distribution specialty pharmacy for OGSIVEO (nirogacestat). Price Performance Shares of the company have gained 45.5% in the past year compared with the industry's 0.8% rise and the S&P 500's 25.6% growth. Zacks Rank & Key Picks Currently, McKesson carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, Boston Scientific Corporation BSX and Ecolab Inc. ECL. DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 13.6%. DVA's earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. DaVita's shares have gained 45.6% compared with the industry's 16.2% rise in the past year. Boston Scientific, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.5%. BSX's earnings surpassed estimates in each of the trailing four quarters, with the average being 7.5%. Boston Scientific has gained 41.4% against the industry's 1.7% decline in the past year. Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 14.3%. ECL's earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 1.3%. Ecolab's shares have rallied 34.6% against the industry's 11% decline in the past year. To read this article on Zacks.com click here.

Older voters want candidates who will protect Social Security, poll finds. Yet parties are tied for their support 2024-06-20 20:30:00+00:00 - Joe Biden and Donald Trump Getty Images Voters, ages 50 and up, will have a strong influence on the November election. And politicians who want to win their vote would be wise to emphasize personal economic issues that affect them, particularly Social Security, according to a new AARP poll of likely voters from the 44 most competitive congressional districts. When asked one question — "How worried are you about your personal financial situation?" — 63% of all voters and 62% of voters ages 50 and up said they are worried, according to the bipartisan survey conducted earlier this month by Fabrizio Ward and Impact Research. "It's a substantial majority of voters who are concerned about their personal financial situation, and why economic issues are going to play such a big role in in this election," Bob Ward, partner at Fabrizio Ward, said during a Thursday presentation of the results. Meanwhile, for older voters, ages 50 and older, Social Security is a top economic concern, the results found. The program's trust funds may be depleted in the 2030s, at which point there would be across-the-board benefit cuts unless Congress acts sooner. Social Security an 'up for grabs issue' When asked how important Social Security is in determining their vote, 80% of voters — ages 50 and up — say it is either extremely important or very important. The issue ranks high as a priority for voters who are Democrats, Republicans or independents. "Democrats only have a three-point advantage on Social Security right now, so the parties are basically tied," said Jeff Liszt, partner at Impact Research. "Social Security is really an up for grabs issue," he added. Many voters said they would be more likely to vote for a candidate who will protect Social Security, he noted. Another issue — family caregiving — also ranked as a high priority with voters ages 50 and up. To that point, 80% of that group surveyed said they would be more likely to vote for a candidate who would provide support to family caregivers to help seniors live independently as they age, and 74% said they would support a candidate who would provide tax credits to help cover the costs of family caregiving. While President Joe Biden has vowed not to cut Social Security benefits, former President Donald Trump said in a March CNBC interview that he would reevaluate spending on entitlements, which could include benefit cuts. Democrats in Congress have proposed plans to make Social Security benefits more generous, which would be paid for by taking the wealthy. watch now

Destruction, Flash Flooding in the Wake of Massive New Mexico Fires 2024-06-20 20:21:31+00:00 - Wildfires killed two people in New Mexico, burned 20,000 acres, and left widespread destruction in the village of Ruidoso. Then the flash floods came. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Power Failure Brings Amtrak and N.J. Transit Trains to a Halt 2024-06-20 20:18:42+00:00 - A power failure shut down all train service along the Northeast Corridor between Philadelphia and New Haven, Conn., on Thursday afternoon, threatening to create a chaotic evening commute on one of the hottest days of the year. Amtrak said a lack of electricity to power trains forced it to temporarily suspend all service along that 150-mile stretch of rails, which passes through New York City. One of Amtrak’s Acela trains was already running more than an hour late when it got stuck just east of Newark. Another of its trains was stranded in Queens, and Amtrak said it would send a diesel engine to haul that train back to Pennsylvania Station in Manhattan. Amtrak cited “reports of a malfunctioning circuit-breaker” as a probable cause of the failure. It said the failure was not related to a brush fire in Secaucus, N.J., on Thursday afternoon that was burning near train tracks and the New Jersey Turnpike. New Jersey Transit’s commuter service in and out of Penn Station was also suspended because its trains share the portion of Amtrak’s Northeast Corridor between New York City and Trenton, N.J.